Decline in primary aluminium inventory decelerates amid low season

Decreases in primary aluminium inventories across China continued to decelerate this week as a low season of consumption sustained, we learned as of Thursday August 9.aluminium

The stocks across eight consumption areas in the country, including SHFE warrants, shrank some 6,000 mt from last Thursday August 2 to stand at 1.775 million mt as of August 9, our data showed. This compared to a week-on-week drop of 14,000 mt seen on August 2 and a week-on-week drop of 28,000 mt recorded on July 26.

Our data also showed that the latest inventory figure was little changed from 1.776 million mt registered on Monday August 6.

Details are as follows:

Wuxi, Jiangsu – 748,000 mt

Shanghai – 412,000 mt

Nanhai, Guangdong – 236,000 mt

Gongyi, Henan – 156,000 mt

Hangzhou, Zhejiang – 110,000 mt

Tianjin – 59,000 mt

Linyi, Shandong – 27,000 mt

Chongqing – 27,000 mt

Source: SMM